Combining RCM expertise with digital technology to minimize administrative costs
The highest indication of good financial health for a healthcare provider is the containment of aging AR to less than 30 days. The right AR solution can reduce AR aging by 12-15%, much like Cognizant’s advanced technology-enabled, talent-driven AR management services. These services are augmented with intelligent automation, helping our clients collect cash faster and increase revenue.
Our highly trained AR experts work directly on every aspect of the AR management cycle, starting from prior authorization to collections. With our approach, almost 50% of your TCO (Total Cost of Operations) is minimized and the RCM staff on your payroll are freed to focus time and attention on Clinical and Patient Outcomes. For one of our clients, that has translated into an increase in collection by 50%.
The Simple Science of Combining Proven Methodology with the Best Technology
We strive so every RCM operation becomes digital, incorporating automation, artificial intelligence (AI) and blockchain solutions to accomplish business goals. In today’s healthcare landscape, our RCM solutions augment human expertise and experience, tackling routine, manual processes and provide insight while humans perform complex, value-add activities.
Our proprietary workflow technology seamlessly manages the process by creating specific SOP guidelines as per payer, making the right information available, and by setting oversight controls for efficient process flow and governance.
Metrics that Matter
Our value levers include Gateway EDI for claims management, flexible pricing models, business impact monetization and advanced predictive and descriptive analytics, RPAs, and AI.
Benefits delivered include,
- Overall TCO reduction of 40%-50%
- DSO improvement by 30%-40%
- Reduction in denials by 5%-10%
- Reduction in AR aging by 10%-12%
- Reduction in write-offs by 2%-4%
Learn more about how our AR management solutions optimize your revenue cycle while containing costs. For information about how to launch AR management Services from Cognizant, connect with one of our AR management experts today.